First Trust Advisors LP lifted its position in Discovery Communications Inc. (NASDAQ:DISCA) by 15.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,128,058 shares of the company’s stock after acquiring an additional 151,971 shares during the period. First Trust Advisors LP’s holdings in Discovery Communications were worth $25,246,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of DISCA. Dimensional Fund Advisors LP raised its stake in shares of Discovery Communications by 30.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,498,449 shares of the company’s stock valued at $38,708,000 after purchasing an additional 353,193 shares in the last quarter. Macquarie Group Ltd. raised its stake in Discovery Communications by 336.4% during the second quarter. Macquarie Group Ltd. now owns 14,400 shares of the company’s stock worth $372,000 after acquiring an additional 11,100 shares in the last quarter. Janus Henderson Group PLC raised its stake in Discovery Communications by 87.7% during the second quarter. Janus Henderson Group PLC now owns 40,470 shares of the company’s stock worth $1,045,000 after acquiring an additional 18,909 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Discovery Communications by 10.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,983 shares of the company’s stock worth $361,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Discovery Communications during the second quarter worth $339,000. Institutional investors and hedge funds own 47.37% of the company’s stock.
Several research analysts have issued reports on DISCA shares. Jefferies Group dropped their price objective on Discovery Communications from $27.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective (down from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Loop Capital dropped their price objective on Discovery Communications from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Credit Suisse Group dropped their price objective on Discovery Communications from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Finally, B. Riley reiterated a “neutral” rating and set a $19.00 price objective (down from $23.00) on shares of Discovery Communications in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.44.
In other news, Director John C. Malone purchased 332,523 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $19.72 per share, for a total transaction of $6,557,353.56. Following the completion of the acquisition, the director now directly owns 671,095 shares in the company, valued at $13,233,993.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 15,976 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.50, for a total value of $343,484.00. Following the completion of the transaction, the insider now owns 85,298 shares in the company, valued at approximately $1,833,907. The disclosure for this sale can be found here. Company insiders own 6.81% of the company’s stock.
Shares of Discovery Communications Inc. (DISCA) opened at $23.80 on Friday. Discovery Communications Inc. has a 12 month low of $15.99 and a 12 month high of $30.25. The firm has a market capitalization of $9,131.41, a price-to-earnings ratio of 12.46, a PEG ratio of 1.23 and a beta of 1.57. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56.
WARNING: This report was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/02/23/first-trust-advisors-lp-purchases-151971-shares-of-discovery-communications-inc-disca.html.
Discovery Communications Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Communications Inc. (NASDAQ:DISCA).
Receive News & Ratings for Discovery Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications and related companies with MarketBeat.com's FREE daily email newsletter.